Institute of Commercial Management | Qualification Subject

# Quantitative Methods For Managers

ICM Professional Diploma Unit

## Data Presentation and Collection

• Frequency distribution
• Frequency tables
• Discrete or continuous data
• Histograms
• Frequency polygon
• Frequency curve
• Cumulative frequency curves
• Bar charts and pie charts
• Lorenz curve

## Central Location and Dispersion

• Notation
• Measures of central location
• Normal and skewed distribution
• Measures of dispersion
• Coefficient of variation

## Regression and Correlation

• Regression analysis
• Correlation
• Spearman’s coefficient of rank correlation
• Multiple regression

## Time Series and Forecasting

• Time series analysis
• Moving average
• Finding the trend
• Finding and eliminating the seasonal variation
• Forecasting: time series
• Forecasting: exponential smoothing

## Probability

• Probability calculations
• Mutually exclusive events: OR rule
• Venn diagrams: events not mutually exclusive
• Independent events: AND rule
• Conditional probability
• Decision trees
• Expected value
• Permutations and combinations

## Probability Distributions

• Normal distribution
• Standard normal distribution
• Binomial distribution
• Poisson distribution

## Sampling and Tests of Hypotheses

• Types of sample
• Distribution of sample means
• Central limit theorem
• Confidence intervals
• Tests of hypotheses: principles
• Tests of hypotheses: practice
• Student distribution

## Index Numbers

• Constructing an index number
• Weighted aggregate index numbers
• The Laspeyres (base-weighted) price index
• The Paasche (current-weighted) price index
• The Laspeyres (base-weighted) quantity index
• The Paasche (current-weighted) quantity index
• Changing the base year
• Price and quantity relative index numbers
• The Retail Price Index (RPI)

## Time Value of Money

• Simple and compound interest
• Discounting and present value
• Investment appraisal
• Depreciation
• Annuities and other financial instruments

## Linear Programming and Break-Even Analysis

• Linear programming
• Solving the linear programme: maximisation
• Solving the linear programme: minimisation
• Break-even analysis

## Calculus and Business Applications

• Differentiation
• Turning points
• Rules for differentiation
• Applications of differentiation
• Partial differentiation
• Integration

## Basic Mathematics

• Whole numbers, fractions and decimals
• Rounding-off
• Percentages and ratio
• Powers and roots
• Simple algebra
• Solving equations
• Simultaneous equations
• Inequalities
• Graphs and functions
• Progressions

## Example Candidate Response Booklet

Example Candidate Response (ECR) Booklets are a source of crucial information for Centres and Candidates as they use real candidate responses. We ask Senior Examiners to comment on five or more responses in terms of why the mark was awarded with commentary about how to improve the answer (if necessary).